Seer (NASDAQ:SEER) Shares Climb 2.5% – Should You Buy?

Seer, Inc. (NASDAQ:SEER) shot up 2.5% on Wednesday. The stock traded as high as $2.0999 and last traded at $2.03. Approximately 121,993 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 320,264 shares. The stock had previously closed at $1.98.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Seer in a research note on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $4.00.

Seer Price Performance

The stock’s fifty day moving average price is $2.02 and its 200-day moving average price is $1.95. The company has a market capitalization of $109.08 million, a price-to-earnings ratio of -1.61 and a beta of 1.47.

Seer (NASDAQ:SEER) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). Seer had a negative net margin of 478.05% and a negative return on equity of 27.23%. The firm had revenue of $3.10 million during the quarter, compared to analyst estimates of $3.55 million.

Institutional Investors Weigh In On Seer

A number of institutional investors have recently made changes to their positions in the company. Corient Private Wealth LP lifted its holdings in Seer by 15.8% during the 2nd quarter. Corient Private Wealth LP now owns 73,200 shares of the company’s stock worth $122,000 after purchasing an additional 10,000 shares during the last quarter. Marquette Asset Management LLC bought a new position in Seer during the 2nd quarter worth $103,000. NewEdge Advisors LLC acquired a new stake in shares of Seer during the first quarter worth $132,000. Finally, Rangeley Capital LLC lifted its holdings in shares of Seer by 821.5% during the first quarter. Rangeley Capital LLC now owns 184,302 shares of the company’s stock worth $310,000 after buying an additional 164,302 shares in the last quarter. Institutional investors own 75.20% of the company’s stock.

About Seer

Seer, Inc is a life sciences company that develops technologies for large-scale protein analysis, or proteomics. Its platform is designed to help researchers study the proteins present in biological samples and generate insights into disease biology, drug discovery and the development of precision medicine.

The company’s principal offering is the Proteograph Product Suite, which combines proprietary nanoparticle technology with automation, software and next-generation sequencing or mass spectrometry workflows.